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STATE COLLEGE, Pa. (KDKA) – Penn State officials elected to take down the Joe Paterno Statue outside of Beaver Stadium Sunday morning, but another bombshell could come on Monday.

According to a CBS News report citing a high-ranking NCAA source, penalties against the university and the football program will be “unprecedented.”

CBS News Chief Investigative Correspondent Armen Keteyian spoke more about the situation on 93-7 The Fan.

“In 1987, the NCAA obviously suspended the SMU football program for one year, the so-called ‘death penalty,'” said Keteyian. “The source I spoke to this morning who is definitely in the know told me, ‘I’ve never seen anything like this.’ So, one would have to believe that this is going to entail some sort of suspension of the program.

“If we’re moving beyond what SMU was, it’s reasonable to believe at this point in time that Penn State could lose its football program for at least a year,” he added. “That’s just me reading into what someone else told me, but this person as I said is definitely in a position to know and is aware of what the penalties are so it certainly does not look good for Penn State.”

Listen to the full interview here:

CBS News investigative reporter Armen Keteyian

Later in the day, KDKA-TV’s Paul Martino talked more with Keteyian about the looming sanctions and the effect they could have on PSU’s football program.

“You take away scholarships and you take away the ability to play on television and in bowl games, and you put a team basically with a scarlet letter on its forehead for a number of years, the cumulative effect of that is going to be far worse,” Keteyian said. “Penn State is going to wish they got the death penalty when the full scope and impact of these sanctions are known.”

The announcement will be made by NCAA President Mark Emmert Monday at 9 a.m.

Many have wondered if the NCAA would hand down the so-called “death penalty” to Penn State in the wake of the Jerry Sandusky child sexual abuse scandal.

According to an ESPN report, the “death penalty” will not be issued. However, it is believed that the sanctions could be equally as severe, if not worse.